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v3.20.1

Business Segment Information (Tables) | 9 Months Ended
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Mar. 29, 2020
Segment Reporting [Abstract] |
Selected Financial Information for Polyester, Nylon, International and Other Segments | Selected financial information is presented below:
|  | For the Three Months Ended March 29, 2020 |
|  | Polyester |  |  | Nylon |  |  | Brazil |  |  | Asia |  |  | All Other |  |  | Total |
Net sales |  | $ | 89,767 |  |  | $ | 20,567 |  |  | $ | 21,060 |  |  | $ | 38,621 |  |  | $ | 979 |  |  | $ | 170,994 |
Cost of sales |  |  | 82,735 |  |  |  | 20,234 |  |  |  | 17,644 |  |  |  | 34,038 |  |  |  | 960 |  |  |  | 155,611 |
Gross profit |  |  | 7,032 |  |  |  | 333 |  |  |  | 3,416 |  |  |  | 4,583 |  |  |  | 19 |  |  |  | 15,383 |
Segment depreciation expense |  |  | 4,301 |  |  |  | 471 |  |  |  | 421 |  |  |  | — |  |  |  | 137 |  |  |  | 5,330 |
Segment Profit |  | $ | 11,333 |  |  | $ | 804 |  |  | $ | 3,837 |  |  | $ | 4,583 |  |  | $ | 156 |  |  | $ | 20,713 |
|  | For the Three Months Ended March 31, 2019 |
|  | Polyester |  |  | Nylon |  |  | Brazil |  |  | Asia |  |  | All Other |  |  | Total |
Net sales |  | $ | 95,745 |  |  | $ | 25,563 |  |  | $ | 25,110 |  |  | $ | 32,571 |  |  | $ | 1,000 |  |  | $ | 179,989 |
Cost of sales |  |  | 90,941 |  |  |  | 23,251 |  |  |  | 22,334 |  |  |  | 28,730 |  |  |  | 942 |  |  |  | 166,198 |
Gross profit |  |  | 4,804 |  |  |  | 2,312 |  |  |  | 2,776 |  |  |  | 3,841 |  |  |  | 58 |  |  |  | 13,791 |
Segment depreciation expense |  |  | 3,858 |  |  |  | 516 |  |  |  | 420 |  |  |  | — |  |  |  | 47 |  |  |  | 4,841 |
Segment Profit |  | $ | 8,662 |  |  | $ | 2,828 |  |  | $ | 3,196 |  |  | $ | 3,841 |  |  | $ | 105 |  |  | $ | 18,632 |
|  | For the Nine Months Ended March 29, 2020 |
|  | Polyester |  |  | Nylon |  |  | Brazil |  |  | Asia |  |  | All Other |  |  | Total |
Net sales |  | $ | 261,212 |  |  | $ | 57,853 |  |  | $ | 66,094 |  |  | $ | 132,496 |  |  | $ | 2,799 |  |  | $ | 520,454 |
Cost of sales |  |  | 239,725 |  |  |  | 56,296 |  |  |  | 55,089 |  |  |  | 118,114 |  |  |  | 2,739 |  |  |  | 471,963 |
Gross profit |  |  | 21,487 |  |  |  | 1,557 |  |  |  | 11,005 |  |  |  | 14,382 |  |  |  | 60 |  |  |  | 48,491 |
Segment depreciation expense |  |  | 12,525 |  |  |  | 1,465 |  |  |  | 1,153 |  |  |  | — |  |  |  | 300 |  |  |  | 15,443 |
Segment Profit |  | $ | 34,012 |  |  | $ | 3,022 |  |  | $ | 12,158 |  |  | $ | 14,382 |  |  | $ | 360 |  |  | $ | 63,934 |
|  | For the Nine Months Ended March 31, 2019 |
|  | Polyester |  |  | Nylon |  |  | Brazil |  |  | Asia |  |  | All Other |  |  | Total |
Net sales |  | $ | 281,665 |  |  | $ | 76,159 |  |  | $ | 76,257 |  |  | $ | 92,014 |  |  | $ | 3,216 |  |  | $ | 529,311 |
Cost of sales |  |  | 265,748 |  |  |  | 69,671 |  |  |  | 62,654 |  |  |  | 80,317 |  |  |  | 2,955 |  |  |  | 481,345 |
Gross profit |  |  | 15,917 |  |  |  | 6,488 |  |  |  | 13,603 |  |  |  | 11,697 |  |  |  | 261 |  |  |  | 47,966 |
Segment depreciation expense |  |  | 12,047 |  |  |  | 1,576 |  |  |  | 1,146 |  |  |  | — |  |  |  | 190 |  |  |  | 14,959 |
Segment Profit |  | $ | 27,964 |  |  | $ | 8,064 |  |  | $ | 14,749 |  |  | $ | 11,697 |  |  | $ | 451 |  |  | $ | 62,925 |
Reconciliations of Segment Gross Profit to Consolidated Income (loss) Before Income Taxes | The reconciliations of segment gross profit to consolidated income (loss) before income taxes are as follows:
|  | For the Three Months Ended |  |  | For the Nine Months Ended |
|  | March 29, 2020 |  |  | March 31, 2019 |  |  | March 29, 2020 |  |  | March 31, 2019 |
Polyester |  | $ | 7,032 |  |  | $ | 4,804 |  |  | $ | 21,487 |  |  | $ | 15,917 |
Nylon |  |  | 333 |  |  |  | 2,312 |  |  |  | 1,557 |  |  |  | 6,488 |
Brazil |  |  | 3,416 |  |  |  | 2,776 |  |  |  | 11,005 |  |  |  | 13,603 |
Asia |  |  | 4,583 |  |  |  | 3,841 |  |  |  | 14,382 |  |  |  | 11,697 |
All Other |  |  | 19 |  |  |  | 58 |  |  |  | 60 |  |  |  | 261 |
Segment gross profit |  |  | 15,383 |  |  |  | 13,791 |  |  |  | 48,491 |  |  |  | 47,966 |
Selling, general and administrative expenses |  |  | 11,720 |  |  |  | 11,439 |  |  |  | 35,208 |  |  |  | 40,672 |
Provision for bad debts |  |  | 580 |  |  |  | 218 |  |  |  | 331 |  |  |  | 381 |
Other operating (income) expense, net |  |  | (62 | ) |  |  | 1,359 |  |  |  | 900 |  |  |  | 1,218 |
Operating income |  |  | 3,145 |  |  |  | 775 |  |  |  | 12,052 |  |  |  | 5,695 |
Interest income |  |  | (173 | ) |  |  | (149 | ) |  |  | (595 | ) |  |  | (448 | )
Interest expense |  |  | 1,231 |  |  |  | 1,256 |  |  |  | 3,589 |  |  |  | 4,078 |
Equity in earnings of unconsolidated affiliates |  |  | (3,526 | ) |  |  | (1,873 | ) |  |  | (1,904 | ) |  |  | (3,126 | )
Impairment of investment in unconsolidated affiliate |  |  | 45,194 |  |  |  | — |  |  |  | 45,194 |  |  |  | — |
Loss on extinguishment of debt |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 131 |
(Loss) income before income taxes |  | $ | (39,581 | ) |  | $ | 1,541 |  |  | $ | (34,232 | ) |  | $ | 5,060 |
Reconciliation of Segment Total Assets to Consolidated Total Assets | The reconciliations of segment total assets to consolidated total assets are as follows:
|  | March 29, 2020 |  |  | June 30, 2019 |
Polyester |  | $ | 295,192 |  |  | $ | 287,608 |
Nylon |  |  | 50,905 |  |  |  | 57,055 |
Brazil |  |  | 54,040 |  |  |  | 67,490 |
Asia |  |  | 45,530 |  |  |  | 35,219 |
Segment total assets |  |  | 445,667 |  |  |  | 447,372 |
Other current assets |  |  | 7,235 |  |  |  | 10,327 |
Other PP&E |  |  | 24,412 |  |  |  | 18,664 |
Other non-current operating lease assets |  |  | 1,599 |  |  |  | — |
Other non-current assets |  |  | 5,275 |  |  |  | 1,468 |
Investments in unconsolidated affiliates |  |  | 58,854 |  |  |  | 114,320 |
Total assets |  | $ | 543,042 |  |  | $ | 592,151 |

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